Algeria News & Events, Latest News for Algeria

Update: Saturday, 15 May 2010    

The U.S. is interested in Algerian Popular Credit bank

American Ambassador from Oran board of trade
Tuesday Nov 28 2006.

The U.S. ambassador to Algeria, Robert Ford, said yesterday his country is interested in privatization of Algeria Popular Credit bank (CPA), saying “some American companies are interested (in the operation), and if Algerian government carries it out in transparent manner, we may achieve good results”.

Speaking to a news conference, in Oran (west) board trade yesterday, the American diplomat said some projects are to be financed by the United States after an agreement with the Trade Ministry. He adds that another agreement with Justice Ministry will allow the training of judges to be able to rule in trade cases worldwide. Mr Robert carries on underlining the need for Algeria of U.S. know-how in relation to SME (small and medium-sized enterprises), mainly as two funds have been created, to finance housing and SME’s creation as well.

Washington has devoted, according to the speaker, 700 million dinars, that is 106 thousand dollars, to fund a mosque restoration project, in Oran. The project has been subjected to an agreement with Religion Affairs Ministry and Oran prefecture. Another project is to be financed by the U.S. in Annaba; it concerns restoration of Saint Augustine Church. A Sufi fraternal order in Biskra also benefited from such U.S. finance aid. Mr Robert Ford says the United States is ready to fund other projects in Algeria.

As far as entry visas are concerned, U.S. Ambassador said “the Algerians will no more have to go to Tunisia to get visas; they will be granted in Algiers... some 500 visas have been granted in 2006, and the figure may be more important in the future”. He also mentioned the opening of the U.S. consulate in Oran, closed in 1993. Mr Ford says it will not be opened for it requires sophisticated security means the U.S. Foreign Department doesn’t have.

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